108: In Case You Missed It: Private Markets Season 1 Highlights

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 10 August 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode, the Money Maze Podcast takes a short trip back to summer 2022 in light of the upcoming release of our second Private Markets Miniseries!

Last year, we released our first season, delving deep into the far reaching ramifications of the industry, and sharing fascinating conversations with guests from the likes of Schroders Capital, Petershill Partners, KKR, Bain Capital, Permira, and CD&R.

We have compiled together some of the highlights from those episodes, discussing alternative assets, branding & consumers, as well as geographical and sector considerations. Also discussed are some key examples of high profile acquisitions, including CD&R's £7bn takeover of Morrisons, and Permira's £300m buyout of Dr. Martens.

Season 2 of Private Markets starts next week, and the 6-part series will run until October. You can listen to both seasons via www.moneymazepodcast.com/series/private-markets. Season 1 was originally recorded in Summer 2022.

The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner.

Transcript

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0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer and Will Campion and I have created this show to explore and unravel some of the mysteries surrounding the investment business. Last year we released our mini-series on private markets, seeking to understand the implications
0:22.4	for the investment industry. We wanted to probe how much of the enthusiasm and growth was cyclical
0:28.3	and powered by cheap money, rather than a structural force creating a permanent component of asset
0:34.6	allocations. In light of the upcoming release of our second private market miniseries,
0:40.0	we've compiled some of the highlights from last season
0:42.5	with fascinating excerpts from the likes of Schroeder's Capital,
0:46.1	Petershill Partners, KKR, Bain Capital, Pamira and CDNR.
0:51.0	Our second season will invite guests from fascinating other firms in this area to learn
0:55.9	what factors are particularly important in achieving successful investment outcomes.
1:01.0	You can also keep up to date by signing up to our newsletter on MoneyMasepodcast.com to ensure you
1:06.4	don't miss out on a release as well as additional investment related materials.
1:12.3	David Novak, partner at CDNR, discussed the complexities around their seven billion
1:17.9	pound takeover of Morrisons. You have acquired Morrisons. Tell me a little bit about your
1:24.3	thinking, the process, timelines, expectations?
1:32.6	There are aspects of the public nature of the Marston's process we didn't love.
1:37.9	Having been in the UK now for 22 years, I was not surprised because we know how important the consumer brands are in the UK, the history of Marston's, which has a terrific legacy,
1:44.0	some specific examples of public companies
1:46.4	going private, going public again, that haven't worked so well. So we're acutely aware of some of the
1:50.8	drivers of that. We had taken a view here in Europe, really 15 years ago, that retail overall
1:59.2	was misunderstood and out of favor, both in the public and the private markets.
2:05.4	That was a view that we had.
2:06.9	It was interesting because for many years it was a very popular place for private equity investment in Europe and in the UK.
	...

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